$ transfer apps

[snickerd3]

Anyone have a favorite $ app like paypal, venmo etc? Pros/cons what sort of personal info do they require? does it require the use through the phone or can you use a computer too?

I've always heard paypal is the most hacked.

I would prefer to not have one at all, but it seems to be the way the world is headed. Lots of the sport coaches are like oh just paypal(or other) me the $ for the jersey, etc...

 

[Supe]

If I'm paying for services, I use Paypal out of convenience/overall adoption by users. Paypal is rough for sellers, they side HEAVILY on the buyer's side for disputes and place the burden back on the seller to prove otherwise.

Paypal is also iffy at times if you haven't verified all your info. I sold an item once after Paypal changed some verification requirement that I hadn't done yet. I got an email saying I had the funds, but when I went in, it showed no funds and no transaction, so I thought I had been scammed. So did the Paypal customer support people, which shows you how useful they are. Did some more searching on a reddit thread and found out I had to do the new verification, and once I did, everything showed up.

I have used both Paypal and Zelle for cash transfers. Zelle was much more finicky, and I guess the 2 factor authentication also depends on what bank its going through in some capacity. I've had it work for confirmed e-mail addresses but not phone #'s and vice versa. I suspect Paypal is probably the most hacked based on percentage of utilization more than anything, and people not using two factor authentication.

 

[snickerd3]

I've used Zelle through our bank's website with no trouble, but it is not common around here.

 

[jeb6294]

If you're just talking sending cash to people, we use CashApp for the most part. I tend to not keep a ton of money in mine just because I don't trust it 100% like most other money apps, but I can add $$$ when I need to send it to someone. If someone sends me $$$, you get a debit card to use or if you don't need it right that second, you can transfer it to your bank account.

 

[wilheldp_PE]

My golf buddies and my cat sitter all use Venmo, so I have pretty extensive experience with that. I don't remember what the account set-up was like, but I don't remember it being overly burdensome. Paying and transferring funds is trivially easy once your bank account is linked, and there are no fees that I have run into yet.

 

[blybrook PE]

I have used paypal for almost 15 years. Is it secure? Usually, and I recommend the 2 factor authentication. Are there issues with the system? Sometimes. Could it be better? Yes, but what system is perfect.

IF you go with paypal, you can set it up as either a business or personal account. The business account is geared towards those that have small businesses and typically accept / send payments on a regular basis. When I first setup paypal, as I was an ebay seller, I had to go with the business account; this has come back to bite me over the years a time or two. Most recently, I received a reimbursement from my employer through paypal for a trailer purchase, I couldn't access the funds until I submitted a business license. It delayed the reimbursement nearly 2 weeks, but it finally got processed. You can work with customer service to change your account type between the two.

I have not tried other transfer options as I hardly ever have a need to transfer electronic cash between folks I have contact with. We either deal in hard cash, or will write a check.

 

[pbrme]

What I need you to do is go down to your nearest Apple store and buy 10 $200 gift cards. You will call back my colleague "William" and he will walk you through the transfer process for adding to your virtual account. Then after this, I will contact IRS account services and clear you from all back charges and credit your refund.

I personally hate trying to use the cash apps. I just carry around large bills anymore, or tell people to hit the bank before they pickup their craigslist.

 

[snickerd3]

I have used paypal for almost 15 years. Is it secure? Usually, and I recommend the 2 factor authentication. Are there issues with the system? Sometimes. Could it be better? Yes, but what system is perfect.

IF you go with paypal, you can set it up as either a business or personal account. The business account is geared towards those that have small businesses and typically accept / send payments on a regular basis. When I first setup paypal, as I was an ebay seller, I had to go with the business account; this has come back to bite me over the years a time or two. Most recently, I received a reimbursement from my employer through paypal for a trailer purchase, I couldn't access the funds until I submitted a business license. It delayed the reimbursement nearly 2 weeks, but it finally got processed. You can work with customer service to change your account type between the two.

I have not tried other transfer options as I hardly ever have a need to transfer electronic cash between folks I have contact with. We either deal in hard cash, or will write a check.

I know!!! people don't want checks... too lazy to make a trip to the bank to cash it.
I don't usually keep cash on me, so I tend to write checks for the sports/school related stuff if I'm not given enough notice.

 

[leggo PE]

I use Venmo a lot (more so before covid) for sharing bills with friends and the like. It’s very easy to use, and account setup is pretty easy — you need to link your bank account to avoid transfer fees, but that’s pretty simple to do.

Otherwise, I definitely have used and continue to use Paypal for certain things (often when purchasing something). I set my Paypal account up so long ago, I don’t really remember anything about the setup. It is also possible to pay for things using Paypal without using an account, which I’ve done too. I’ve briefly used Zelle too, but really only once or twice. I don’t remember much about it, honestly.

 

[blybrook PE]

I know!!! people don't want checks... too lazy to make a trip to the bank to cash it.
I don't usually keep cash on me, so I tend to write checks for the sports/school related stuff if I'm not given enough notice.

You don't even have to go to the bank to cash it with most banks, you can do mobile deposit.

I think the last time I took a check to the bank was from the insurance company as it was greater than my daily mobile deposit limit.

 

[jeb6294]

I know!!! people don't want checks... too lazy to make a trip to the bank to cash it.
I don't usually keep cash on me, so I tend to write checks for the sports/school related stuff if I'm not given enough notice.

Same...aside from getting something notarized a couple weeks ago, I can't remember the last time I stepped foot in a bank. Usually I use the bank's app to deposit checks with mobile deposit, or on occasion when that doesn't work for some reason, at the ATM.

My problem is that I use checks so infrequently now that I didn't even have any the last time I needed one. I ended up getting a "freebie" book for the cost of shipping...a book with like 20 checks to check out before you order a whole box. So far I've used one.

 

[snickerd3]

The number of checks I write has gone down but still necessary. daycare is cash/check only. The stamp and check are cheaper than the processing fees to use credit card for property taxes, ins, etc...
I wish I could have written a check for my PE license renewal but everything is online only and the state charges a processes fee of at least $1.50, $ dependent to pay anything online.

 

[mudpuppy]

IMost recently, I received a reimbursement from my employer through paypal for a trailer purchase, I couldn't access the funds until I submitted a business license. It delayed the reimbursement nearly 2 weeks, but it finally got processed. You can work with customer service to change your account type between the two.

Was the business license requirement specific to Alaska?

 

[blybrook PE]

Was the business license requirement specific to Alaska?

They weren't clear on that. They only required a copy of a business license in my name to be uploaded for verification of business status.

I don't know if they'll be sticklers about it for other states or not. It seemed odd as it had never been required previously.

 

[mudpuppy]

They weren't clear on that. They only required a copy of a business license in my name to be uploaded for verification of business status.

I don't know if they'll be sticklers about it for other states or not. It seemed odd as it had never been required previously.

Ok interesting. Just curious because Michigan doesn't have a specific "business license."